Does Nemexio add interest to my invoices?

No. The figure is shown to the payer for information. Whether you claim it is always your decision.

Does it apply to private customers?

No. The Act covers business-to-business debts only. Private customers are never told about interest or fees.

Which base rate is used?

The Bank of England rate in force on 30 June (for July to December) or 31 December (for January to June), as the Act requires. Each period is checked before it is quoted.

Is this legal advice?

No. Nemexio provides information. For a claim or a dispute, take independent advice.

Back to Nemexio

Statutory interest

The interest you're owed, worked out to the penny

Every late commercial invoice earns statutory interest and fixed compensation under the Late Payment Act. Nemexio calculates it daily on every line and quotes it, for information, in your firm and final reminders.

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Late Payment Act 1998 · 8% + base

£193.98 claimable

Invoice INV-0412£8,400.00

Days late46

Interest so far£123.98

Fixed compensation£70.00

+£18.86 every week it stays unpaid

Step by step

How it works

Due date passes

From the day after the due date, interest starts building at 8% over the Bank of England base rate.

Calculated every day

Nemexio works out the amount built up so far, plus how much more each week of delay adds.

Compensation added to the picture

£40, £70 or £100 per invoice depending on its size, as set by section 5A of the Act.

Quoted in firm reminders

From the second reminder, business payers are told what has accrued. It is information: it is never silently added to the amount.

In detail

Everything statutory interest does for you

Daily accrual

The amount built up so far is recalculated every day the invoice stays unpaid.

Weekly cost of waiting

Payers see how much more each week of delay adds.

Size-based compensation

£40, £70 or £100 picked automatically from the invoice amount.

Checked rates

Each half-year base rate is checked before Nemexio quotes any figure.

Business payers only

Never shown to private customers.

Free calculator

Try the numbers on any invoice from our home page, no sign-up.

Before and after

What changes on day one

Without Nemexio

Spreadsheets and sticky notes to track who owes what
Awkward phone calls and emails written from scratch
Deadlines and interest you're entitled to slip by
Hours every month spent chasing instead of working

With Nemexio

Every overdue invoice detected automatically
Consistent, polite reminders sent every weekday morning
Statutory dates and interest calculated for you
Payment detected and chasing stopped on its own

The numbers

Why it matters

Every figure comes from GOV.UK or the legislation itself.

8% + base

Statutory interest on late commercial debts, on top of £40–£100 fixed compensation per invoice.

Source: Late Payment of Commercial Debts (Interest) Act 1998

£40–£100

Fixed compensation per invoice: £40 under £1,000, £70 under £10,000, £100 above.

Source: Late Payment Act 1998, s.5A

£26bn

UK businesses are owed around £26 billion in late payments at any moment.

Source: GOV.UK — Late payment consultation: government response, 2026

Most businesses never claim the interest they are entitled to. Simply showing the figure is often what moves an invoice to the top of the payer's pile.

Getting started